Biden Touts Economic Wins in Arizona Amid Tight 2024 Race

President Joe Biden's administration has created over 13 million new jobs and achieved significant economic growth, with Arizona set to receive $24 billion in federal funds for projects like a giant chip factory. Despite challenges from inflation and immigration, the administration's economic achievements will be crucial in the 2024 presidential election.

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Biden Touts Economic Wins in Arizona Amid Tight 2024 Race

Biden Touts Economic Wins in Arizona Amid Tight 2024 Race

President Joe Biden's administration has achieved significant successes in job creation and economic growth, with over 13 million new jobs created during his presidency. Despite facing challenges from inflation and a tight United, States, election against Donald Trump, the administration has made progress in Covid recovery and secured multiple legislative victories.

Why this matters: The outcome of the 2024 presidential election may hinge on the administration's ability to convince voters of its economic achievements, which could have a lasting impact on the country's economic trajectory. The success or failure of Biden's economic policies will also influence the direction of future administrations and their approach to addressing economic challenges.

The administration's signature legislative accomplishments, including the Inflation Reduction Act, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, will ultimately send about $24 billion to Arizona. This influx of federal funds is fueling massive projects in the state, such as a giant chip factory in northern Phoenix being built by companies like Intel and TSMC.

TSMC has committed to spending $65 billion in Arizona over the next decade, building facilities that will create 6,000 permanent jobs and roughly 20,000 temporary construction jobs. Intel is similarly expanding its footprint in the state, receiving about $10 billion from the Commerce Department and planning to spend nearly $20 billion to expand its presence. Aaron McDonald, a union ironworker, expressed gratitude for the work, saying, "We know we have Biden to thank for this work. The growth to me just really doesn't seem like it's gonna slow down at anytime."

The growth in Arizona's economy is transforming the region, with massive projects under construction. Zachary Holman, an engineering professor at Arizona State University, described the visible signs of prosperity, noting, "When you drive to the north or you drive to the south, you see what my wife calls the cranes of prosperity. And they are very prominent." The investments in green technology and semiconductors are expected to make a difference in a state where Biden bested President Trump by a mere 10,000 votes in 2020.

However, recent polling points to challenges in winning over voters in Arizona, with a majority of Americans saying they don't know enough to say whether the Inflation Reduction Act helped or hurt them. A majority of registered voters in the state think Trump is more trusted than Biden to address the economy and immigration. Soaring rents, rising consumer prices, and the crisis at the border, plan, working, top, official are capturing most of the attention, overshadowing the administration's achievements.

Kevin Hartke, the Republican mayor of Chandler, expressed concerns about the impact of growing prices on residents, stating, "I think those areas where there is more of this hits me concerns as people struggle to keep up with those kind of growing prices." Despite the challenges, Phoenix Mayor Kate Gallego, a Democrat, praised the transformative impact of the past four years, asserting, "The last four years have been transformational for Phoenix. We are going to have a more diverse high-wage economy for a generation because of Biden."

As the 2024 presidential election approaches, the Biden administration's economic achievements in Arizona will be put to the test. Recent polls show a tight race, with an Emerson College poll indicating Biden trailing Trump 44 to 40, with Robert F. Kennedy Jr. at 9 percent. A more recent poll from Data Orbital found Biden and Trump tied at 38 percent, with Kennedy at 14 percent. The outcome in this crucial swing state may hinge on whether voters prioritize the administration's job creation and economic growth or remain focused on the challenges of inflation and immigration.

Key Takeaways

  • 13 million new jobs created during Biden's presidency.
  • $24 billion in federal funds allocated to Arizona for projects.
  • TSMC and Intel investing $85 billion in Arizona, creating 26,000 jobs.
  • Arizona's economy booming, but voters remain concerned about inflation and immigration.
  • 2024 presidential election outcome in Arizona may hinge on economic achievements.